If you are outside the world of mining or scientific research, you have probably heard little about rare earth elements (REEs). That’s because these elements are scattered underground, difficult to extract, and not typically covered in your high school chemistry class. Despite their low abundance in the earth’s crust, REEs are concentrated in many devices above ground, including a full suite found in the average smartphone and in electric vehicles.
Rare earth elements are of key importance in society’s drive towards sustainability. Companies across industries worldwide are facing increasing societal pressure to demonstrate their contribution towards building a sustainable future. A large part of this revolves around shifting away from fossil fuels and moving towards renewable forms of energy. This shift is driving an increased demand for the metals needed to manufacture renewable energy equipment such as solar panels and wind turbines. REEs have diverse applications (Figure 2) but most are linked to the shift towards green energy.
The rapidly expanding electric vehicle (EV) industry frequently makes headlines as some of the world’s wealthiest men—Elon Musk and more recently, Jeff Bezos—compete for leadership. However, a steady and growing supply of REEs—particularly neodymium, praseodymium, dysoprosium and terbium—is critical for sustaining growth in the sector. Electric vehicle motors require powerful permanent NdFeB (Neodynium-Iron-Boron) magnets to operate, and these contain a variety of rare earth elements. Neodynium and praseodymium are responsible for the magnets’ exceptional strength while dysoprosium and terbium prevent magnets from overheating, enhancing the durability of EV motors. Because wind turbines make use of similar style batteries, they require the same suite of metals.
When looking at the global distribution of REE deposits, China is a clear winner. With one country holding a near monopoly on the rare earth elements market, trade negotiations can be particularly for other world leaders. Interestingly, this exact problem formed the plot of one installment in the popular video game series Call of Duty. To effectively reduce reliance on China, new deposits need to be discovered and delineated in other parts of the globe before they can be mined and brought to market. This is where Minrom steps in.
MINROM has been involved in several REE projects across Africa, ranging from early-stage exploration to concept development. As these metals are hosted in a variety of complex deposit types, a team of well-trained professionals is critical to maximising a project’s full potential. MINROM welcomes new REE projects and remains committed to suppling the metals that support a more sustainable future.
Author
Oscar van Antwerpen
